Mortgage and Financial News From 2008-1-28 Page 8

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  • Asian stocks rebound cautiously on US rate cut hopes (AFP via Yahoo! News)

    Asian stock markets staged a cautious rally in early trade on Tuesday, lifted by an overnight rebound on Wall Street as investors pinned their hopes on another US interest rate cut, dealers said.
    2008-01-28 09:49:31

  • New home sales dropped in 2007 by a record amount; prices posted weakest showing in 16 years (Savannah Morning News)

    WASHINGTON - Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years, demonstrating the troubles builders are facing with a huge backlog of unsold homes.
    2008-01-28 09:53:46

  • Subprime crisis makes Cleveland a ghost town

    Daily Telegraph - As most of the US experiences a housing slump, the number of mortgage foreclosures in Cleveland soared to 70,000 last year from 120 in 2002. The use of subprime home loans, granted to Americans with poor credit, grew dramatically during a housing ...
    2008-01-28 06:31:00

  • When a deal is no longer a deal

    CNN Money - Still, with house prices falling, the economy slowing and banks straining under the weight of bad mortgage loans, there's no sign that raising money for leveraged buyouts is going to get any easier. That's the notion that's leading shares of many ...
    2008-01-28 11:00:00

  • Provident New York Bancorp Reports a 36% Increase in Quarterly EPS.

    Forbes - One- to four-family residential mortgage loans 500,172 500,825 Commercial real estate, commercial business and construction loans 909,404 895,233 ...
    2008-01-28 01:59:00

  • Apollo Bankers Swap $6.34 Billion of Harrah's Bonds (Update2)

    Bloomberg - The banks also committed to a $2 billion six-year revolving line of credit and $6.5 billion of mortgage loans or mezzanine financing, according to a Jan. 14 filing with the Securities and Exchange Commission. The toggle bonds allow Harrah ...
    2008-01-28 02:56:00

  • Federal Trust Corporation Announces Year-End Results for 2007

    MSN MoneyCentral - ... holding company and is the parent company of Federal Trust Bank, a $688 million federally-chartered, FDIC-insured savings bank, and Federal Trust Mortgage Company, a Florida corporation, which originates fixed and adjustable rate mortgage loans ...
    2008-01-28 02:49:00

  • Fitch Ratings Assigns Rtgs to BOAMS $833.8MM Series 2008-A

    Forbes - The transaction is secured by three pools of mortgage loans. Loan groups 1, 2 and 3 are cross-collateralized and supported by the B-1 through B-7 subordinate certificates. The mortgage pool consists of 1,191 fully amortizing, adjustable interest ...
    2008-01-28 12:18:00

  • Jumbo loans spell relief

    The Washington Times - The two enterprises constitute the primary market for about 70 percent of new mortgage loans. The credit contraction caused new home sales to plunge by 41 percent in the year through December while prices dropped by 10 percent in the worst performance ...
    2008-01-28 09:30:00

  • A Mortgage 'Tweak' We Don't Need

    Wall Street Journal - Kemp, "when servicers are unwilling or unable to voluntarily modify exploding, unsustainable home mortgage loans, Congress has a duty to consider involuntary modification in bankruptcy court." This type of modification is more commonly known in the ...
    2008-01-28 08:04:00

  • S.Korea's Kookmin up on $1 bln Kazakh deal report - Guardian Unlimited

    S.Korea's Kookmin up on $1 bln Kazakh deal reportGuardian Unlimited, UK - 59 minutes agoUS subprime mortgage woes, which South Korean lenders have largely avoided, have also raised hopes that domestic banks could acquire small-sized Western ...
    2008-01-28 08:44:30

  • Area jury awards outpace US average - Kansas City Star

    Area jury awards outpace US averageKansas City Star, MO - 53 minutes agoThe mortgage industry opposes the measure, which it says would make lenders far more reluctant to extend home loans. Personal-injury attorneys Samuel Wendt ...
    2008-01-28 08:50:39

  • Census: Az leads in payday loans, RV rentals, brick making - Tucson Citizen

    Census: Az leads in payday loans, RV rentals, brick makingTucson Citizen, AZ - 47 minutes agoClark said housing will take the biggest hit in the 2007 rankings because of a dramatic drop in the number of mortgage brokers and real estate agents. ...
    2008-01-28 08:56:40

  • Sub prime loan tsunami costing Black America billions - FinalCall.com

    Sub prime loan tsunami costing Black America billionsFinalCall.com, IL - 42 minutes agoIf you have equity you can get a home mortgage loan. But if things go poorly and you don’t have any equity, you’re liable to lose your home,” he said. ...
    2008-01-28 09:00:52

  • US loans crisis 'will slow EU growth' - Irish Independent

    US loans crisis 'will slow EU growth'Irish Independent, Ireland - 41 minutes agoShort-term lending rates soared in December following a rout in US mortgage securities, prompting the ECB to add €348.6bn to money markets. ...
    2008-01-28 09:01:58

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